By Derrick ForsytheRecord Staff WriterThe decision to refinance a pair of bond issues will result in an aggregate savings of $1,076,411.39 for the Wright City R-II School District over the next 11 years, according to officials.The district’s board of education voted 7-0 to refinance the Series 2007 and Series 2010 bonds during its monthly meeting on Aug. 27.Refinancing the Series 2007 bonds, used to construct the Wright City East Elementary School, will generate a savings of $977,775, while the Series 2010 bonds, used to purchase land in preparation for a new high school when needed, will result in a savings of $98,636.39.“What we gained by saving almost $1.1 million by refinancing is that we will pay off that debt quicker,” said Superintendent David Buck. “That will save taxpayers money on the back end. It also allows us to reach a bonding capacity level quicker if we are in need to build a new high school in the future.”Capital projects, which are Fund 4 monies, are not changed based on the refinancing of the bonds, which are Fund 3 monies.However, the faster payoff of the bonds will allow the district to move more quickly toward its long-term facility goals.“Our next big thing in our five-year plan is updating the high school locker rooms,” said Buck. “We are also looking to work on the underpinnings of the high school roof.”In terms of expansion, the greatest needs are at East Elementary and the high school.East has a classroom capacity of 242 students. With 238 students currently using the building, there are no empty rooms available.The high school is still under its capacity of 500, with 459 students, but is rather limited in space.“The demographics of growth will make a difference,” said Buck. “That is, age, makeup and location of homes will dictate what options are best.”The long-term plan for the high school would suggest having a new building to replace the current 50-year-old building by 2024-2025.Both East Elementary and the middle school were designed with the option to expand off the current facilities.“The issue might be if all the growth is in town or west of town, then to make East a K-5 building would be to put the boundary for the two elementaries in town and very close to West Elementary,” said Buck. “Also, to add on to East Elementary would push off the bonding capacity of a new high school by several years.”Bond refinancing